Fortune Cookies Of Real Estate

This is an unbelievable story of how a virtually penniless middle-aged couple made a lot of money by asking property owners to grant them a first and second mortgages. They borrowed low-interest loans, which were guaranteed by the government to renovate the properties. In four years, they owned and renovated 50 apartments worth 2 million dollars. In 1985, they retired to Florida. They liquidated their properties and invested the proceeds in the stock market. In 1987, the stock market collapsed and they lost most of their money. They liquated all their stocks and built 18 single family homes for rental. By 2004, they had recouped all their losses and were millionaires again!